Lake Tiak O'Khata Independent Living Retreat

The year's first Independent Living Retreat is quickly approaching. The scheduled date is December the 11th and 12th at Lake Tiak O'Khata in Louisville, MS. This is one of the favorite locations for Independent Living Retreats buy both youth and adults. The scenery is breath taking, the hospitality is what you would expect from a southern resort, and the food is the 'bomb' as I have been told before by a youth. I think it's the food. It's not your typical "camp" food, but a buffett of fried southern cuisine filled with fresh pond raised Mississippi Catfish, frog legs, fried oysters, and cornbread hushpuppies. There are just too many items to list, but you can look it up on their webpage at www.ltok.com.

This will be the first of three retreats scheduled for our foster youth this fiscal year, and will be one of two for the 14 - 15 year old age group. We expect approximately 40 foster youth from throughout the state to participate, so get your applications in early so you won't be left out.

You'll need to bring some things essential for survial: sleeping bag, pillow, coat, toiletries, towel, comfortable shoes, and any prescribed medications. Drop off starts at 3:30 on Friday afternoon, and pick up starts at 12:15 p.m. on Saturday.

Youth get rewarded with a $20 stipend for attending the retreat, as well as have the opportunity to gain some valuable life skills. This is also a great chance to get to meet other foster youth from through out the state, meet up with siblings, and see your favorite Independent Living Specialist! If you are interested in going, make sure your social worker has put the application through the proper channels. See you there!!!

Four Savings Tips for Teens

I am often told by youth that "money" is the most essential thing needed for living independently. While I don't deny that, I never seem to have any when I need it. One of the most known tips for managing money is knowing that one should "save" a portion of their earnings. Even 5% of one's income saved is better than 0%. I advise youth to save 10%, though I know saving any amount can be difficult at times. While in college, it was hard to save anything. Like many of my fellow college students, I was living "hand-to-mouth", and can remember many times knowing my meal (and sometimes meals) for the day was going to be Ramen noodles. I ask my youth to look at how many expenses they encounter NOW. Most have none. So larger percentages of their incomes can expect to be placed into savings.

I wanted to post some tips for saving that will allow especially our foster youth to be setting some financial goals for their future. I ran across these through Yahoo, and encourage not only youth, but also adults to use this resource in getting back to the basics of managing our finances.

1. Whether you get a $10 check for your birthday or make $50 a week at a part-time job, get in the habit of putting a portion of that money aside for savings. You can go with a consistent percentage, like 10% or 25%, or you can simply take a few dollars out and put it away. Consistently putting money into savings like this will grow your dollars faster than you might think. For example, if you put just two dollars a week in to your piggy bank, by the end of the year you will have $104 saved.

2. If you really want to save your money for the future, you might try cutting out your trips to Starbucks or McDonald's every week. While this is an admirable strategy, completely cutting out something you love in favor of saving cash isn't always the easiest goal to set. Instead, start with baby steps like cutting your Starbucks trips from four to two visits a week and placing the money you don't spend in to your savings fund. By cutting spending back instead of completely, you will be more likely to meet your goals and save consistently.

3. It's a simple fact: when you don't have it, you won't spend it. While it is a good idea to always have a few dollars in your wallet for emergencies, you don't need to flash a wad of cash every time you walk out of your house. Take only what you need, and leave the rest at home in a piggy bank or in your savings account where you will actually have to visit the bank to get at it.

4. When you manage to save some cash, take the money to the bank and open up a savings account. Most banks will waive the minimum balance requirements for minors, but you will still reap the benefits that the account offers.

I hope these tips help. I want to thank Amber in Money Management for Kids and Teens @ Yahoo.com.